Global oil markets are again showing the impact of emotions and misinterpretation. The so-called surprise production increase taken by eight (8) leading members of OPEC is, in principle, not relevant for fundamentals or market stability, as it is only an indication. The presented production increase is based on raising the OPEC production ceiling—not to be taken as opening the valves to flood markets. At the same time, international media are again treating the situation as set in stone, while most headlines indicate that it is a strategic…
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